Ideal Final Result Consultants Ltd 03469956 false 2022-10-01 2023-09-30 2023-09-30 The principal activity of the company is that of engineering consultants Digita Accounts Production Advanced 6.30.9574.0 true true 03469956 2022-10-01 2023-09-30 03469956 2023-09-30 03469956 bus:OrdinaryShareClass1 2023-09-30 03469956 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:CurrentFinancialInstruments 2023-09-30 03469956 core:CurrentFinancialInstruments 2023-09-30 03469956 core:CurrentFinancialInstruments core:WithinOneYear 2023-09-30 03469956 core:FurnitureFittingsToolsEquipment 2023-09-30 03469956 bus:SmallEntities 2022-10-01 2023-09-30 03469956 bus:AuditExemptWithAccountantsReport 2022-10-01 2023-09-30 03469956 bus:FullAccounts 2022-10-01 2023-09-30 03469956 bus:SmallCompaniesRegimeForAccounts 2022-10-01 2023-09-30 03469956 bus:RegisteredOffice 2022-10-01 2023-09-30 03469956 bus:CompanySecretaryDirector1 2022-10-01 2023-09-30 03469956 bus:Director2 2022-10-01 2023-09-30 03469956 bus:OrdinaryShareClass1 2022-10-01 2023-09-30 03469956 bus:PrivateLimitedCompanyLtd 2022-10-01 2023-09-30 03469956 core:Buildings 2022-10-01 2023-09-30 03469956 core:FurnitureFittings 2022-10-01 2023-09-30 03469956 core:FurnitureFittingsToolsEquipment 2022-10-01 2023-09-30 03469956 core:OfficeEquipment 2022-10-01 2023-09-30 03469956 countries:England 2022-10-01 2023-09-30 03469956 2022-09-30 03469956 core:FurnitureFittingsToolsEquipment 2022-09-30 03469956 2021-10-01 2022-09-30 03469956 2022-09-30 03469956 bus:OrdinaryShareClass1 2022-09-30 03469956 core:CurrentFinancialInstruments 2022-09-30 03469956 core:CurrentFinancialInstruments core:WithinOneYear 2022-09-30 03469956 core:FurnitureFittingsToolsEquipment 2022-09-30 03469956 core:RetainedEarningsAccumulatedLosses core:LandBuildings 2021-10-01 2022-09-30 03469956 core:RevaluationReserve core:LandBuildings 2021-10-01 2022-09-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03469956

Ideal Final Result Consultants Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 September 2023

 

Ideal Final Result Consultants Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Financial Statements

4 to 9

 

Ideal Final Result Consultants Ltd

Company Information

Directors

Mr D Mann

Mrs F Stuart

Company secretary

Mr D Mann

Registered office

The Old Vicarage
Cranford
Bideford
Devon
EX39 5QW

Accountants

Newsham Hanson Accountants Limited
Accountants and Business Advisors
Edinburgh House
1-5 Bellevue Road
Clevedon
North Somerset
BS21 7NP

 

Ideal Final Result Consultants Ltd

(Registration number: 03469956)
Balance Sheet as at 30 September 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,474

985

Investment property

5

1,080,000

1,080,000

 

1,081,474

1,080,985

Current assets

 

Stocks

7

1,500

2,000

Debtors

8

42,970

5,281

Other financial assets

6

150

150

Cash at bank and in hand

 

1,006,456

844,561

 

1,051,076

851,992

Creditors: Amounts falling due within one year

9

(465,069)

(431,068)

Net current assets

 

586,007

420,924

Net assets

 

1,667,481

1,501,909

Capital and reserves

 

Called up share capital

10

1,000

1,000

Revaluation reserve

564

564

Retained earnings

1,665,917

1,500,345

Shareholders' funds

 

1,667,481

1,501,909

For the financial year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 16 January 2024 and signed on its behalf by:
 

 

Ideal Final Result Consultants Ltd

(Registration number: 03469956)
Balance Sheet as at 30 September 2023

.........................................
Mrs F Stuart
Director

 

Ideal Final Result Consultants Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
The Old Vicarage
Cranford
Bideford
Devon
EX39 5QW

These financial statements were authorised for issue by the Board on 16 January 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Ideal Final Result Consultants Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Freehold property

2% straight line basis

Fixtures & fittings

15% straight line basis

Office equipment

25% straight line basis

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by the Directors. The Directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Ideal Final Result Consultants Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Ideal Final Result Consultants Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2022

58,944

58,944

Additions

843

843

At 30 September 2023

59,787

59,787

Depreciation

At 1 October 2022

57,959

57,959

Charge for the year

354

354

At 30 September 2023

58,313

58,313

Carrying amount

At 30 September 2023

1,474

1,474

At 30 September 2022

985

985

5

Investment properties

2023
£

At 1 October

1,080,000

At 30 September

1,080,000

The directors have valued the investment property based on the open market value at the balance sheet date.

There has been no valuation of investment property by an independent valuer.

 

Ideal Final Result Consultants Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

6

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Current financial assets

Cost or valuation

At 1 October 2022

150

150

At 30 September 2023

150

150

Impairment

Carrying amount

At 30 September 2023

150

150

7

Stocks

2023
£

2022
£

Other inventories

1,500

2,000

8

Debtors

Current

2023
£

2022
£

Trade debtors

42,722

4,830

Prepayments

248

451

 

42,970

5,281

9

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

12

414,879

408,336

Amounts owed to related parties

78

59

Taxation and social security

 

3,234

251

Other creditors

 

46,878

22,422

 

465,069

431,068

 

Ideal Final Result Consultants Ltd

Notes to the Financial Statements for the Year Ended 30 September 2023

10

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary share of £1 each

1,000

1,000

1,000

1,000

         

11

Reserves

The changes to each component of equity resulting from items of other comprehensive income for the prior year were as follows:

Revaluation reserve
£

Retained earnings
£

Surplus/deficit on property, plant and equipment revaluation

564

(564)

12

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Other borrowings

414,879

408,336